Following Tesla’s latest decision to halt the receipt of Bitcoin as payment for its electric cars, Elon Musk has come under intense fire across the global crypto community for wielding his strong market influence in a negative predatory manner.

Elon who broke the news via his personal Twitter handle cited high fossil energy concerns in the light of climate change as the principal reason for reversing Tesla’s bitcoin acceptance.

Is Elon A Hypocrite?
Saifedean Ammous – the famous author of the crypto bestseller, The Bitcoin Standard, took to Twitter in response to Elon’s tweet wasting no time to pronounce the Dogefather, a clueless hypocrite.

But Why?

For obvious reasons.
&nb ... Read more »

Category: News | Views: 215 | Added by: danyagames2007 | Date: 14.05.2021 | Comments (0)

The amount of Bitcoin being deposited into crypto exchanges by investors has reached a one-year high. This new trend was identified by the team at CryptoQuant through the following tweet.

Bitcoin Mining Transactions Need to Be More Sustainable – Elon Musk
Investors shifting from holding Bitcoin to sending their BTC to crypto exchanges is the result of Tesla’s CEO, Elon Musk, commenting that the company will no longer be accepting the digital asset for payments. Mr. Musk went on to explain that the reason behind the decision was that Bitcoin mining was costly to the environment and needed to be more energy efficient.

His comments resulted in Bitcoin dropping by 19.2% from $57k to $46k. At the time of writing, Bitcoin is trading at $50,200 as it attempts to reclaim the crucial $50k price area as support.

It ... Read more »

Category: News | Views: 229 | Added by: danyagames2007 | Date: 14.05.2021 | Comments (0)

Bitcoin (BTC) is rising from oversold levels as traders digest the news from Tesla’s announcement on Wednesday which triggered a near 15% price drop. The cryptocurrency held support around $46,000 and is currently trading back above $50,000 at the time of writing.

However, long-term momentum continues to weaken which could limit price recoveries this weekend and into next week.

Bitcoin remains in a consolidation phase with frequent drawdowns, which was in effect for several months before the Tesla announcement.

The relative strength index (RSI) on the four-hour chart registered an oversold signal on Thursday, which could keep buyers active towards $53,000-$54,000.

On the daily chart, the RSI is not yet oversold. Meanwhile, the weekly RSI has receded from extreme overbought levels and is now neutral. This mean ... Read more »

Category: News | Views: 218 | Added by: danyagames2007 | Date: 14.05.2021 | Comments (0)

Bitcoin price underwent a severe nosedive as Elon Musk revealed Tesla’s decision on accepting payment in BTC. This development was the major highlight of the week, with the recent mining difficulty adjustment coming in at a close second. As BTC price hangs in the balance, most on-chain metrics hint that another crash could be heading the pioneer cryptocurrency’s way.

Tesla pulls the plug, but demand continues rising
Tesla CEO Elon Musk was the bearer of bad news this week as he tweeted on May 13 that the electric car maker will no longer accept payment in BTC. Market participants reacted acutely to this revelation and went into a selling spree, tanking Bitcoin price by a whopping 16% in under 24 hours.

To make matters worse, reports of Binance, one of the world’s largest cryptocurrency exchanges, being inve ... Read more »

Category: News | Views: 191 | Added by: danyagames2007 | Date: 14.05.2021 | Comments (0)